PDVSA Bonds Gain to Two-Year High as Traders See Desire to Pay

  • Debt bounces back after drop on Monday following swap offer
  • PDVSA to offer new bonds at 1:1 ratio to old until Sept. 29

Petroleos de Venezuela SA’s debt reached a two-year high as investor conviction that the country wants to pay its obligations overcame initial disappointment over the company’s $7 billion bond-swap offer.

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